2022: A Partnership Under Threat
For more than 15 years, a professional association had relied on a single insurer to support its bespoke indemnity and liability program. In 2022, that stability was shaken when the insurer signaled its intention to withdraw capacity due to ongoing poor claims performance across the membership base.
This posed a serious risk: without intervention, members could have faced sudden loss of coverage and significant disruption.
Edgewise worked closely with both the association and the insurer to agree on a forward strategy. This included benchmarking risks against the broader market and introducing member education initiatives to improve claims outcomes.
Through negotiation, we secured the insurer’s commitment to continue supporting the programme for another two years, albeit with necessary adjustments: a modest 10 percent rate increase and the introduction of an excess where previously none existed. These changes were critical to maintaining continuity while addressing the insurer’s concerns.
2024: Navigating Insurer Withdrawal
Despite these efforts, claims performance continued to deteriorate over the two-year period, and the insurer ultimately confirmed its withdrawal from the program.
This development could have left hundreds of members exposed, but Edgewise was prepared. In partnership with the association, we implemented a compulsory risk management programme for members, delivered primarily by Edgewise through webinars and seminars. These initiatives were designed to improve risk awareness and reduce future claims frequency.
At the same time, we prepared a comprehensive market submission and leveraged our substantial affinity portfolio to identify new capacity.
Our relationships and scale gave us the negotiating power to secure a seamless transition to a new insurer—at the same rates, terms, and conditions that members had previously enjoyed. This outcome was achieved without disruption to coverage, preserving the integrity of the programme and the confidence of the membership base.
Edgewise’s Impact
What began as a looming crisis in 2022—a potential collapse of a long-standing insurance program—was transformed into an opportunity to strengthen risk management and secure continuity. By combining strategic negotiation, proactive education, and market leverage, Edgewise ensured that members remained protected and the association’s programme retained its value.
Today, we continue to deliver educational webinars to the membership base, reinforcing our commitment to long-term resilience and partnership.
The information on this page is intended for general educational purposes and necessarily simplifies some concepts for clarity. Insurance policies can differ widely between insurers, policy types, and jurisdictions. For guidance on your specific circumstances, you should review your policy documents carefully and consult a qualified insurance adviser, broker, or legal professional.